Question

The purpose of ______ is to match supply and demand among the producers and consumers of society as a whole.

Answer 1

The purpose of Microeconomics is to match supply and demand among the producers and consumers of society as a whole.

What is microeconomics?

Microeconomics is the study of decisions made by people and businesses regarding the allocation of resources, and prices at which they trade goods and services.

Examples of microeconomics include:

• Supply
• Demand
• Competition
• Prices of goods

Hence, Microeconomics aims at matching supply and demand among the producers and consumers of society as a whole.

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